Filtering speed in a Continental European reorganization procedure
Nico Dewaelheyns and
Cynthia Van Hulle
International Review of Law and Economics, 2009, vol. 29, issue 4, 375-387
Recent studies of US Chapter 11 show it to be a relatively efficient procedure. We examine reorganization cases in a Continental European, creditor-oriented bankruptcy system, viz. Belgium, and report very different findings. Using hazard and cure regression models to determine what drives the length of time spent in reorganizations, we find evidence suggesting that courts have little impact on the screening and filtering process. In fact, many drivers of procedure length prove to have the opposite sign of what one would expect if the procedure would efficiently realise its goals. Instead, the procedure appears to be mainly creditor or owner-driven.
Keywords: Reorganization; Bankruptcy; Hazard; models; Filtering; speed (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:irlaec:v:29:y:2009:i:4:p:375-387
Access Statistics for this article
International Review of Law and Economics is currently edited by C. Ott, A. W. Katz and H-B. SchÃ¤fer
More articles in International Review of Law and Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().